PCIT v. Kandla Steel Pvt. Ltd. (2023) 452 ITR 22 (Guj.)(HC)

S. 145 : Method of accounting-Rejection of books of account-Estimation of profit 0.5 per cent-Question of fact. [S. 145(3), 260A]

Held that when both the authorities had deemed it appropriate to apply 0.5 per cent. net profit ratio the order need not be interfered with. These were all essentially and predominantly the factual aspects analysed based on the material adduced before these authorities and that also by giving cogent and sound reasons. No question of law arose.(AY.2010-11)